Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $40.13.

Several analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Stephens started coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th.

Bicycle Therapeutics Trading Down 0.2 %

Shares of NASDAQ:BCYC opened at $20.35 on Thursday. The company has a market capitalization of $967.64 million, a PE ratio of -6.20 and a beta of 0.89. Bicycle Therapeutics has a twelve month low of $13.47 and a twelve month high of $28.67. The firm has a 50 day simple moving average of $23.79 and a 200-day simple moving average of $22.99.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.26) EPS. As a group, equities research analysts predict that Bicycle Therapeutics will post -3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,840 shares of company stock worth $259,128. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BCYC. Price T Rowe Associates Inc. MD grew its stake in shares of Bicycle Therapeutics by 45.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after purchasing an additional 124,809 shares during the period. Baker BROS. Advisors LP grew its stake in Bicycle Therapeutics by 176.1% in the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after acquiring an additional 3,152,433 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Bicycle Therapeutics by 27.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock valued at $1,119,000 after acquiring an additional 11,809 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Bicycle Therapeutics by 0.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after acquiring an additional 4,976 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Bicycle Therapeutics by 202.2% in the 2nd quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company’s stock valued at $4,898,000 after acquiring an additional 161,911 shares during the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

About Bicycle Therapeutics

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.